Bath & Body Works (BBWI) said the company is maintaining full-year 2026 guidance of net sales to decline between 4.5% to 2.5% compared to fiscal 2025. The company also maintained 2026 earnings per share guidance of between $3.00 and $3.25, and adjusted earnings per share guidance of between $2.40 and $2.65. In fiscal 2026, the company expects to generate free cash flow of approximately $600 million.
For the second quarter, the company expects net sales to decline between 5% to 3% from prior year. Second quarter earnings per share is expected to be between $0.20 and $0.25.
First quarter net income was $183 million compared to $105 million last year. Earnings per diluted share were $0.90, compared to $0.49. Excluding items, adjusted earnings per share was $0.32, adjusted operating income was $151 million and adjusted net income was $65 million. Net sales were $1.38 billion, a decrease of 3% compared to prior year.
The company said Chief Financial Officer Eva Boratto will step down from her role effective June 12 to pursue another professional opportunity. Tom Javitch has been appointed Interim Chief Financial Officer effective upon Borattos departure. Javitch has been with Bath & Body Works for more than 16 years and L Brands for 25 years. The company has initiated a comprehensive search process, supported by a leading executive search firm, to identify next CFO.
In pre-market trading on NYSE, Bath & Body Works shares are up 12.28 percent to $19.92.
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